Whistleblower Exposes M3M3’s Memecoin Shenanigans! 🎭💰

by

In a dramatic twist worthy of a soap opera, DefiTuna has cut the cord with an investor, hurling accusations at M3M3 and the illustrious leaders of Meteora, claiming they orchestrated a $200 million market manipulation extravaganza, all while the memecoins danced merrily on the blockchain.

Market Manipulation Concerns Spur Investment Refund 💸

On the fateful day of February 17, 2025, our hero, Moty Povolotski, the founder of DefiTuna, took to the digital stage to announce the severing of ties with Kelsier, an investor who had graced the project with a modest $30,000 in January. This shocking decision came after whispers of Kelsier’s involvement in dubious market manipulation schemes linked to LIBRA, MELANIA, and the meme coin launchpad M3M3 reached a crescendo.

Povolotski proclaimed,

“DefiTuna accepted an investment from Kelsier, making him the second smallest investor in our grand venture back on January 16, 2025. Upon discovering Kelsier’s shenanigans, we promptly refunded him and severed all ties—like a bad haircut.”

Allegations Against M3M3 and Meteora Leadership 🕵️‍♂️

In the wake of this scandal, Povolotski unleashed a torrent of allegations against M3M3 and its merry band of leaders. He claimed that Kelsier was part of a well-orchestrated effort to siphon off vast sums from memecoin launches on M3M3, like a magician pulling rabbits out of a hat—only these rabbits were made of cash.

Moreover, he accused Meteora’s leadership, including the enigmatic co-founder Ben, of facilitating a cabal of influencers who profited at the expense of unsuspecting retail investors. Despite Povolotski’s valiant attempts to engage with Meteora’s core contributors, he lamented the lack of accountability, as if he were trying to teach a cat to fetch.

He lamented,

“I have personally gone the extra mile, risking everything we built at DefiTuna, to coax key players into naming the bad actors and weeding them out—like a gardener in a field of weeds.”

Liquidity Manipulation and Deceptive Practices 🎩

Povolotski also shed light on the tangled web of interactions between DefiTuna and Kelsier. It turns out Kelsier had approached the project through Thomas, an employee based in Lebanon, seeking assistance in providing liquidity for M3M3. Initially presented as an independent platform, M3M3 was later revealed to be under the watchful eye of Ben, like a hawk eyeing its prey.

Kelsier’s involvement required projects launching on M3M3 to allocate a portion of their token supply to him. DefiTuna’s co-founder, Vlad, initially thought he was joining a legitimate partnership, only to discover that Ben had imposed restrictions tighter than a drum, preventing any trading activity outside of Meteora. When DefiTuna suggested a neutral liquidity distribution strategy, they were met with silence—like a mime in a crowded room.

DefiTuna’s Position in the DeFi Market 🌊

Despite its relatively diminutive stature, DefiTuna boasts around $10 million in total value locked (TVL) and continues to offer high APR staking for SOL in its lending pools. Operating in a high-risk environment, the project remains steadfast in its commitment to transparency, having previously spoken out against the manipulative practices that plague the Solana ecosystem.

By taking a firm stance against market manipulation, DefiTuna aspires to uphold integrity within the DeFi space, even as the broader crypto industry grapples with regulatory and ethical challenges that seem to multiply like rabbits in spring.

Read More

2025-02-18 20:14